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Financial Markets Conduct Act 2013

Dealing in financial products on markets - Disclosure of relevant interests in quoted financial products by directors and senior managers of listed issuers

298: Disclosure of relevant interests and dealings in relevant interests in relation to specified derivatives

You could also call this:

"Tell people about your interests in certain company financial products if you're a company director or senior manager."

Illustration for Financial Markets Conduct Act 2013

If you are a director or senior manager of a company listed on the stock market, you must tell people about your interests in certain financial products, like specified derivatives. You have to do this within 5 trading days of your company being listed or you being appointed to your role, and you must follow the rules set out in sections 299 and 300.

If you buy or sell a specified derivative, you must also disclose this information within 5 trading days, following the same rules as before.

A specified derivative is a type of financial product that is related to your company or a company connected to yours, and it can be a quoted derivative or one that is treated as a quoted financial product under section 233.

This rule is also subject to other rules set out in sections 299 to 303A.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4091441.

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Part 5Dealing in financial products on markets
Disclosure of relevant interests in quoted financial products by directors and senior managers of listed issuers

298Disclosure of relevant interests and dealings in relevant interests in relation to specified derivatives

  1. A director or senior manager of a listed issuer who has a relevant interest in a specified derivative must disclose that fact, in accordance with sections 299 and 300, within 5 trading days of this section becoming applicable as a result of—

  2. the listing of the listed issuer; or
    1. the person's appointment as a director or senior manager.

      1. A director or senior manager of a listed issuer who acquires or disposes of a relevant interest in a specified derivative must disclose that fact, in accordance with sections 299 and 300, within 5 trading days of the acquisition or disposal.

      2. In this subpart, specified derivative, in relation to a director or senior manager of a listed issuer, means—

      3. a quoted derivative where the underlying is a financial product of the listed issuer or a related body corporate; or
        1. a derivative that is treated as being a quoted financial product of the listed issuer under section 233.

          1. This section is subject to sections 299 to 303A.

          Notes
          • Section 298(4): amended, on , by section 68 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).